Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-19)

The price of the currency has reached a new high and there are signs of acceleration
1. Market Trends <br/>Today is May 19, 2017. The current price of Bitcoin is 1847.41 USD. Yesterday, the price of Bitcoin has been rising since the opening, reaching the highest point of the day at 1873, and there was no obvious correction during the period.
Looking at the daily chart, the MACD indicator forms a golden cross in the strong area, and the stochastic indicator and the strength index both extend northward to the overbought area, indicating that the bullish pattern is still relatively good. However, when the price breaks through the new high, there is a lack of high trading volume, and the MACD indicator at this level shows a top divergence. Therefore, it is not advisable to buy more in the short term, and wait until the price retreats before making a layout.
Looking at the 4-hour chart, the moving average system (5, 10, 20) still shows a multi-arrangement pattern, and the MACD indicator is running in a strong area, and the bullish pattern remains. However, the K-line at this level has reported two bearish shooting star lines in succession, and both the stochastic indicator and the strength and weakness index have shown signs of extending southward to the hovering zone. Therefore, there is a need for adjustment in the price of the currency at this level.
Overall, the bullish pattern remains relatively good, but many investors should ignore some potential signals that prices are expected to fall back. Long-term investors continue to hold positions, and short-term investors can make arrangements when prices fall back, mainly buying on dips.


2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coinzone based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the distribution of long and short forces in the current market in order to better analyze and judge price trends.